Police say the woman was found stuck on the side of Kelingking Beach cliff on Saturday morning, local time.
Emergency services rushed to the scene, but she fell further before they could reach her.
"The victim is estimated to have fallen around 9am," Nusa Penida Alert Unit co-ordinator Cakra Negara said in a statement.
"At the time, she was seeking an independent path toward the edge of the cliff before slipping and falling into the ravine," he said.
"When found, the victim had sustained several fractures; we secured her onto a stretcher to facilitate the evacuation process."
Kelingking Beach is one of the most popular destinations for Bali tourists, offering panoramic views from the 180-metre-high coastal cliff.
Nusa Penida Police said the woman, a 29-year-old Queenslander, was visiting the area on a holiday.
A Department of Foreign Affairs and Trade spokesperson confirmed the government was providing consular assistance to the woman's family.
"We send our deepest condolences to the family at this difficult time," they said.
"The family have requested privacy at this difficult time."
Queensland Premier David Crisafulli described the death as "tremendously sad".
"To have a life taken away in a heartbeat like that ... it's just incredibly, incredibly sad," he told reporters on Sunday.
"I just express my sympathies to her family and those loved ones with her and back at home.
"I think all of Queensland collectively looks at that and just feels ... just a huge degree of sorrow."
Swimming at Kelingking Beach, sometimes referred to as T-Rex Bay, is banned year-round, due to dangerous currents.
The trek down to the beach can take two hours on a path described as perilous.
Work on a panoramic glass lift to carry visitors down to the beach was started in 2024, but after fierce opposition from locals and tourists the project was halted in October 2025.
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